Foreclosure rates decrease in January in R.I, Prov.-Warwick metro

THE FORECLOSURE rate in the Providence-Warwick metropolitan area decreased by three-tenths of a percentage point in January compared with the same period last year, to 1.7 percent from 2 percent, according to CoreLogic. / COURTESY CORELOGIC
THE FORECLOSURE rate in the Providence-Warwick metropolitan area decreased by three-tenths of a percentage point in January compared with the same period last year, to 1.7 percent from 2 percent, according to CoreLogic. / COURTESY CORELOGIC

PROVIDENCE – The foreclosure rate in the Providence-Warwick metropolitan area decreased by three-tenths of a percentage point in January compared with the same period last year, to 1.7 percent from 2 percent, according to data released Thursday by CoreLogic.
Rhode Island’s foreclosure rate also decreased by a half a percentage point, to 1.6 percent in January from 2.1 percent during the prior year period.
Foreclosure rates for the Providence-Warwick metropolitan area and Rhode Island were higher than the national rate of 1.5 percent, which also declined year over year by five-tenths of a percentage point.
The foreclosure rate for Providence-Warwick has been steadily declining since June.
The mortgage delinquency rate – the percent of mortgage loans that were 90 days or more delinquent – also decreased in Providence-Warwick, to 5.5 percent in January from 6.4 percent a year ago. The mortgage delinquency rate also was 5.5 percent for the entire state of Rhode Island, CoreLogic said.
However, the mortgage delinquency rate in Providence-Warwick and Rhode Island was higher than the national rate of 4 percent. The national rate also declined year over year by nearly 1 percent.

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